The title to all property acquired by the authority shall vest in the authority. All property acquired for the development of industrial sites, parks and subdivisions shall be exempt from taxation to the same extent as other property used for public purposes. All revenues collected by the authority shall also be exempt from taxation.
KRS 154.50-343
Title to property -- Authority's property, revenues are tax-exempt
Known as the Local Industrial Development Authority Act
The act spans §§ 154.50-020 to 154.50-350 (16 sections).
History: Created 1970 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.